Peripheral Artery Disease Market Overview:
Global Peripheral Artery Disease Market was valued at $3,136 million in 2016, and is estimated to reach $4,980 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. Peripheral artery disease is a circulatory disease in which plaque builds up in the arteries carrying blood from heart to legs, arms, and other limbs. Increase in incidence of population suffering from diabetes and high blood pressure which poses a high risk factor for peripheral artery disease drives the market growth. In addition, favorable reimbursement scenario for peripheral artery disease treatment and introduction of advanced treatment products such as drug-eluting stents boost the market growth. However, the issue of restenosis (reoccurrence of peripheral artery disease even after the treatment) impedes the market growth.
Rise in Geriatric Population
There is an increase in the number of aging population worldwide. According to a WHO report, around 524 million people were above 65 years in 2010, and the number is expected to reach 1.5 billion by 2050; which is estimated to constitute about 16% of the total world population. Moreover, there is a positive correlation between elderly individuals and increase in incidence of disorders such as diabetes and hypertension, which in turn increases the risk for peripheral artery disease. Hence, increase in geriatric population is expected to have a positive impact on the market.
Growth in Asia-Pacific Region
Asia-Pacific offers lucrative opportunities for the market growth, owing to presence of large pool of patients suffering from peripheral arterial disease. In addition, increase in awareness among patients regarding the new interventional treatment options such as atherectomy procedure has further increased the peripheral artery disease market in Asia.
Advanced Treatment Options
The market for peripheral artery disease witnesses a huge increase owing to the advanced treatment options such as atherectomy devices, which is used to debulk plaque before treatment with a stent. Therefore, with increase in prevalence of calcified and hard lessions and improving atherectomy procedure, the market is expected to grow in the near future. In addition, other new interventional products such as drug coated balloon stents and drug eluting stents also fuel the market growth.
Global Peripheral Artery Disease: Market Segmentation
The global peripheral artery disease market is segmented on the basis of type and region. Based on type, the market is divided into peripheral angioplasty balloons, peripheral stents, peripheral catheters, inferior vena cava (IVC) filters, plaque modification devices, hemodynamic flow alteration devices, and peripheral accessories. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key companies operating in the market include Abbott Laboratories, Boston Scientific Corporation, Cook Medical, Cardinal Health, Inc., C. R. Bard, Inc., Medtronic plc, Terumo Corporation, The Spectranetics Corporation, AngioDynamics, Inc., BIOTRONIK, and B. Braun Melsungen AG.
South Africa: Peripheral Artery Disease Market, 2016-2023 ($Million)
Key Benefits :
- The study provides an in-depth analysis of the global peripheral artery disease market, with current trends and future estimations, to elucidate the imminent investment pockets.
- Quantitative analysis from 2016 to 2023 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
Peripheral Artery Disease Market Key Segments:
- Peripheral Angioplasty Balloons
- Old/Normal Balloons
- Cutting and Scoring Balloons
- Drug-Coated Balloons
- Peripheral Stents
- Drug-eluting Stents
- Peripheral Catheters
- Angiography Catheters
- Guiding Catheters
- Inferior Vena Cava (IVC) Filters
- Permanent Filters
- Retrievable Filters
- Plaque Modification Devices
- Thrombectomy Devices
- Mechanical Thrombectomy Devices
- Aspiration Thrombectomy Devices
- Rheolytic Thrombectomy Devices
- Atherectomy Devices
- Thrombectomy Devices
- Hemodynamic Flow Alteration Devices
- Embolic Protection Devices
- Chronic Total Occlusion Devices
- Peripheral Accessories
- Vascular Closure Devices
- Introducer Sheaths
- Balloon Inflation Devices
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA